Using the current ratio (CR), determine if the company would be approved for a bank loan. On December 31st, a company's Balance Sheet show the following: Cash Accounts Receivable Inventory Prepaid Insurance Long-term Assets Accounts Payable Notes Payable due in 10 months Wages Payable Long-term Liabilities Stockholders' (Owner's) Equity $ 10,000 30,000 80,000 6,000 200,000 30,000 25,000 5,000 70,000 196,000 With a CR of 0.80, the company has liquidity problems. With a CR of 2.1, the company has good level of liquidity. VU UVUV Accounts Receivable Inventory Prepaid Insurance Long-term Assets Accounts Payable Notes Payable due in 10 months Wages Payable Long-term Liabilities Stockholders' (Owner's) Equity 30,000 80,000 6,000 200,000 30,000 25,000 5,000 70,000 196,000 With a CR of 0.80, the company has liquidity problems. With a CR of 2.1, the company has good level of liquidity. None of the responses are correct With a CR of 1, the company is just able to meet its current debts